The USS Indianapolis Survivors' Scholarship Fund was generously established in 2001 by author Doug Stanton, with proceeds from his hardcover book "In Harm's Way." When the book went out of print and that pledge was met, the fund became permanently endowed by the family of rescue pilot Wilbur C. Gwinn and was renamed as the USS Indianapolis Gwinn "Angel" Scholarship Endowment Fund.

The purpose of the USS Indianapolis Gwinn "Angel" Scholarship Endowment Fund shall be to preserve the legacy and story of the USS Indianapolis by recognizing, with an annual scholarship award, those who have direct relatives who were involved with the USS Indianapolis and the rescue of the survivors.